Live in Flip, turned long term rental

[Charlie Massey]

Investment Info:

Single-family residence other investment.

Purchase price: $194,000
Cash invested: $30,000

Large opportunity to add value. We fixed most of it up while living there. Decided to move after a year and turn it into a rental.

What made you interested in investing in this type of deal?

Opportunity to add value.

How did you find this deal and how did you negotiate it?

MLS, it had been on the market longer than normal so I asked them to bring the price down.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Banksouth